Less than two months after the acquisition of D2C footwear startup Solethreads, its co-founder and CEO Sumant Kakaria has moved to private equity firm Famy Aspire Capital as a partner. Kakaria announced the development through a LinkedIn post on Tuesday. “After a blessed journey as an entrepreneur, I’m thrilled to announce I’ve joined Famy Aspire Capital as a Partner,” he wrote. Famy Aspire Capital is a strategic private equity fund focused on consumer and healthcare sectors. The firm is backed by the Taparia family and plans to invest in high-growth consumer ventures. In his post, Kakaria said the fund aims to bring an “operator-investor DNA” to support founders and help build category-leading companies. He also highlighted opportunities in India’s consumer sector as consumption patterns continue to evolve. The development comes shortly after Tauseef Mirza, managing director of Mirza International,acquired a 100% stakein Solethreads in March this year. Financial details of the deal were not disclosed. Founded in 2020 by Sumant Kakaria, Gaurav Chopra, Vikram Iyer, and Aprajit Kathuria, Solethreads operates in the open and casual footwear segment. The Gurugram-based startup sells sneakers, slides, and flip-flops through online and offline channels. The company had raised more than $7 million in funding since inception. In July 2023, Solethreads secured $3.7 million in a Series A round led byFireside Ventures, with participation from DSG Consumer Partners and Saama Capital. The startup had earlier raised around $3.5 million from DSG Consumer Partners and Saama Capital. Kakaria’s transition from founder to investor reflects a growing trend of startup founders moving into investment roles as India’s consumer ecosystem matures. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
